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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- The University of Queensland
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Planning Commission, India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
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